OOO Megradzor Gold plans to complete construction of the gold recovery plant on Meghradzor gold mine by the end of 2016, said General Director Vardan Markaryan. According to him, the factory plans to receive monthly 15-20 kg of gold in concentrate, local media reported. Previously, Megradzor Gold reported that the capacity of the plant for the ore processing will be 120 thousand tons per year. Megradzor Gold, created in September 2010 by VardanMarkaryan, develops gold deposit of the same name, except for the Lusadzhurskoye site, which is owned by businessman, former deputy TigranArzakantsyan. Meghradzor gold deposit is located in the Kotayk region of Armenia, near village Megradzor. In terms of reserves (22 tons), it is the fourth site in Armenia. Currently, Megradzor Gold supplies about 5 thousand tons of ore a month for processing at Ararat gold recovery plant, belonging to the Russian company GeoProMining (GeoProMining), which is developing Armenian gold deposit Sotk, operates Ararat gold mining company, Agarak Copper-Molybdenum Combine.
Source: Uncommercial joint ownership "Trans-regional Association of precious metals producers"